500 102,850 Incr $9,650 subtract (-) Prepaid Expenses 28,400 26,000 Incr $2,400 subtract (-) Investments 138,000 114,000 Incr $24,000 Plant assets 270,000 242,500 Incr $27,500 Less: Accumulated depreciation (50,000) (52,000) Decr $2,000 Total $ 682,500 $ 514,750 Liabilities and Stockholders’ Equity: Accounts Payable $ 112,000 $ 67,300 Incr $44,700 add (+) Accrued expenses payable 16,500 17,000 Decr $500 subtract
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General & Admin Expenses, Total | 29,863.0 | 30,612.0 | 35,624.0 | 39,167.0 | | Depreciation & Amortization, Total | 16,217.0 | 16,303.0 | 16,496.0 | 16,460.0 | | OTHER OPERATING EXPENSES, TOTAL | 46,080.0 | 46,915.0 | 52,120.0 | 55,627.0 | | OPERATING INCOME | 18,825.0 | 15,919.0 | 12,880.0 | 13,944.0 | | Interest Expense | -3,102.0 | -2,523.0 | -2,827.0 | -2,571.0 | | Interest And Investment Income | 75.0 | 92.0 | 68.0 | 57.0 | | Other Non-Operating Expenses, Total | 569.0
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the conceptual basis for the design and use of newly emerging activity-based cost (ABC) systems. TVaditional cost systems use volume-driven allocation bases, such as direct labor dollars, machine hours, and sales dollars, to assign organizational expenses to individual products and customers. But many ofthe resource demands by individual products and customers are not proportional to the volume of units produced or sold.^ Thus, conventional systems do not measure accurately the costs of resources
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affirmation requirements for CEO’s and CFO’s. Approach Undoubtedly, the accrual idea is the most difficult of all basic accounting matters for the student to grasp. As a matter of fact, we sometimes say that the proper recognition of revenue and expense is the only important accounting problem. Although this is an exaggeration, it is not far from the truth. The text and cases in this chapter constitute only a beginning in understanding and it is to be expected that students will understand the matter
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a hole that it cannot climb out of. The operating budget is part of the company's master budget. Horngren, Harrison & Oliver state that the operating budget is a set of budgets that project sales revenue, cost of goods sold, and operating expenses, leading to the budgeted income statement that projects operating income for the period. Once the company knows the income that it has to operate with, it will send budgets out to the stores and this is the budgets that management must work with
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840,000 | Total Revenue | | 960,000 | EXPENSES | | | Labor expenses | $260,000 | | Supply expenses | 88,000 | | Administration expenses | 80,000 | | Depreciation expenses | 50,000 | | Bad debt expenses | 40,000 | | Interest expenses | 12,000 | | Transfers to parent corporation | 10,000 | | Total Operating Expenses | | $540,000 | NET INCOME LOSS/GAIN | | $420,000 | Explain the difference
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word “bougette” which means purse. It is practically, a plan and list of all planned expenses and revenue. It is a plan for borrowing, saving, and spending. So why Budget? An average student spends his allowance for books, student housing, tuition fee, and food. These are all expenses encountered not only by students but, in general, most of the people in the world. There are generally three types of expenses usually faced by students, the Academic, Living, and Personal Expenditures or Costs. Academic
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regular expenses incurred to maintain an asset. They can be matched with revenue from the asset and should be charged to current expenses. Capital expenditures are expenses incurred to increase the future service potential of an asset. They should not be written off and expensed when incurred. Instead, it should be added to the unexpired cost of the asset and be charged to expense over the remaining period of the benefit. It is important to know the difference so you know when and how to expense maintenance
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16, 2013 Purpose: To provide quality training for the new audit compliance system there will be necessary expenditures. This memo will present the final budget proposal these expenditures include but are not limited to: wages, materials, travel expenses, and training materials. Steps have been put in place to minimize the overall cost of the training but not at the cost of quality of the project. Budgetary Numbers: Humane Resources Cost: While the Looney Tune Bank and Trust Corporation has
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Case Study 4 Stephanie M. Clark Capella University Aurora Textile Company was established in the early 1900s as a yarn manufacturer. The company focused on four major customer segments, which were hosiery, knitted outerwear, woven and industrial and specialty products. Aurora Textile Company grew to become the leader in the textile-mill industry. In more recent years, changes in the market led to significant declines in financial performance for both Aurora and the U.S. textile industry over
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